Manufacturing Sector Displayed Six-Month Highest Growth in December 2012: Survey
The Purchasing Managers' Index from HSBC survey revealed on 2 Jan 2013 that the manufacturing activity of India increased in Dec 2012 to maximum in six months.
The Purchasing Managers' Index (PMI) from HSBC survey revealed on 2 January 2013 that the manufacturing activity of India increased in December 2012 to maximum in six months. This happened because of an increase in the new orders as well as strengthened factory output.
The survey provides a peep into the sector of manufacturing ranging from jobs to output. The survey showed that the manufacturing activity increased from 53.7 in November 2012 to 54.7 in December 2012.
The parameter for measuring is a figure of 50 points. The sector showing figure more than 50 points displays growth while that below 50 points indicates contraction. The chief economist of HSBC described that the manufacturing sector gained pace because of upstick in the new orders as well as faster growth of output.
An increase in the manufacturing activity of India indicated a positive sign for the economy as well.